Kenny Polcari of Slatestone Wealth Chief Market Strategist discusses how investors should deal with negative market news in order to make money.
JPMorgan Chase CEO Jamie Dimon It urges caution about the outlook for the US economy amidst persistent uncertainty over the effects of tariffs and geopolitical headwinds.
“I think you should be careful about that [on the economic impact on the U.S.]because some of these things have long cycles. So we don’t know yet. People expect these things to happen soon. But in reality, many of them haven’t happened,” Dimon was released Wednesday morning in an interview about the “Office Hours: Business Edition” podcast.
Dimon warned of the economic impacts of tariffs, changes in immigration policies, geopolitical challenges, and changes in the president’s tax and expenditures. Donald Trump’s One big beautiful bill act remains.
JPMorgan CEO warned individually in an interview Tuesday that he believes the economy is “weaking.”
“I don’t know if it’s heading towards a recession or if it just weakens,” he said. He told CNBC.
His comments this week come after he said earlier this summer that the economy could soon worsen. Dimon said at the time he wanted only a “little” of employment declines and increased inflation.
Jamie Dimon, CEO of JPMorgan Chase, said “be careful” about the US economic outlook as some policy changes occur. (Getty Images/Chris Ratcliffe via Getty Images/Bloomberg)
On this week’s podcast, Dimon Banking Industry It experiences more integration, but downplayed the prospects of JPMorgan Chase buying banks in the US or overseas.
“We are not allowed to buy banks in the United States. We could not have done it abroad if we wanted to, but we probably wouldn’t,” Dimon said.
The company established its presence in the UK before launching a digital bank in Germany in 2026.
Jpmorgan Chase is not trying to buy a bank overseas, Dimon said. (Getty Images/Michael Nagle via Getty Images/Bloomberg)
Dimon has run the largest US bank for over 19 years and has chosen to provide a timeline for his ultimate retirement, but has provided insight into his potential successor.
He said it belongs to Jpmorgan Chase. Next CEO He will likely become an insider while he stepped into the role of board chair.
“It’s when they’re ready and when I go – or a combination of the two,” Dimon said. “I have a great relationship with all the people here. The board could have the potential to chair me for several years.”
JPMorgan CEO reveals what keeps the US economy strong despite global challenges
Dimon refused to provide a timeline for him to step down as CEO of JPMorgan Chase. (Tom Williams/CQ-Roll Call, Inc, Getty Images/Getty Images)
Last year, Dimon said he hopes to leave JPMorgan Chase within the next five years, although he does not provide a specific timeline.
JPMorgan’s board of directors has been identified for April 2024 Dimon’s potential successor Short and long term.
Daniel Pinto, the bank’s president and chief operating officer, is scheduled to retire at the end of 2026 and has been identified as a potential short-term CEO. Pinto was acting CEO when Dimon underwent emergency heart surgery in 2020.
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Jennifer Piepsack and Troy Rohrbo are candidates for the top job when Dimon finally leaves. They are the co-CEOS of the company’s expanded commercial and investment banks. Piepszak has been with the company for nearly 30 years, and Rohrbaugh has been working for JPMorgan since 2005.
Other candidates identified by the board include Marianne Lake, CEO of Consumer and Community Banking, and Mary Erdoes, CEO of Asset and Wealth Management.
